On or before May 1 of each year the Commission shall submit a written itemized annual budget to the City Council including estimated revenues and estimated expenditures for the next fiscal year, itemized by purposes and objects, including but not limited to the number, classification and compensation of all persons employed and the amount to be paid to such employees according to classification including any contract employees. This written request shall include a capital expenditure budget and be on an accounting basis in accordance with generally accepted accounting principles which will reflect all revenue earned and all expenses incurred. The budget request shall also show the amount needed to retire bonds, deposits to be made to special funds, including sinking funds, capital improvements funds, customer installations, maintenance and repair, and such other items as necessary to show a detailed statement of the expenditure of all funds.
(Ord. 2005-20. Passed 10-17-05.)